P.G. Economides & Co Ltd: Compliance: Friend or Foe?

Maria Panteli, Chief Compliance Officer at PGE&Co (P.G. Economides & Co), explains why compliance doesn’t have to be a business burden. She discusses how strategic compliance can dispel common myths, prevent risks and drive long-term success, while preparing organisations for emerging regulatory challenges.

Many executives still perceive compliance as a necessary evil that hinders business. Why has compliance gained this negative reputation?

Compliance often gets a bad rap like red tape. In the past, some companies approached it as a box-ticking exercise, which made it feel like an obstacle to agility. However, that view is misguided. Effective compliance is essential for protecting a company – it helps prevent costly mistakes that could lead to hefty fines or reputational damage. When implemented correctly, compliance helps the business. It builds a foundation of trust with stakeholders because people see the company operating ethically and transparently. There’s also a lingering myth that compliance “stifles innovation and adds no value” because some people focus on the short-term hassle rather than on the long-term benefits.

How can compliance be a “friend” to organisations? What are the benefits of getting it right?

When approached strategically, compliance becomes a powerful ally. First, it mitigates risks by catching potential issues early – regulatory breaches, fraud, data leaks, etc. Second, it fosters a culture of integrity. When everyone in the company knows that ethical conduct is non-negotiable, it builds trust with customers, partners and investors. That trust and solid reputation translate into advantages. Companies that play by the rules attract investors and partners, making it easier to pursue new opportunities. Finally, effective compliance supports long-term success. It ensures stability and continuity – avoiding disruptions from legal troubles – and aligns operations with strategic goals rather than working against them. Compliance done well is part of good corporate governance and it pays off by safeguarding the business while enabling sustainable growth.

Can you share a scenario where compliance can make a positive difference for a company?

Certainly. Imagine a mid-sized tech company expanding into a new market. The sales team is eager to close deals quickly but the compliance officer insists on thorough due diligence – checking local data privacy laws and anti-bribery regulations. Initially, the sales team is frustrated by the slowdown. But during the review, the compliance team discovers that a potential local partner has a history of regulatory violations. Thanks to this finding, the company avoids a risky entanglement. A few months later, a competitor who skipped these steps gets hit with a fine for non-compliance. Our company, by contrast, launches smoothly. This fictional scenario mirrors real life – I’ve seen firms that invest in compliance avoid disasters and gain a competitive edge. This shows that compliance, when embraced, is a friend that keeps you out of trouble and lets you seize opportunities safely.

What emerging trends in compliance should business leaders be aware of?

The compliance landscape is constantly evolving. One major trend is the surge in data privacy regulations worldwide. Laws like Europe’s GDPR set the bar and now many other regions are introducing strict data protection rules. Companies need to be ready with strong data management and cybersecurity measures to stay compliant and maintain customer trust. Another trend is the rise of RegTech – using technology like AI to handle compliance more efficiently. Intelligent tools can monitor transactions, flag anomalies and even predict risks, helping companies manage complex requirements with less manual effort. Finally, ESG compliance is becoming crucial – businesses are expected to be transparent about their environmental and social impact. Those that proactively adapt to new sustainability and ethics reporting requirements will avoid penalties and build public goodwill.

Any final thoughts on making compliance work for business success?

I urge executives to view compliance not as bureaucracy but as an investment in the company’s future. When compliance is embedded in the corporate culture – championed by leadership and lived by every employee – the organisation becomes both safer and stronger. You mitigate legal and financial risks while cultivating trust. In my experience, companies that thrive long-term are those that marry strong business acumen with strong ethics. So, is compliance a friend or foe? With the right approach, it’s one of your best friends – a guardian of your success.

About Maria Panteli

Maria Panteli is a Director of P.G. Economides & Co Ltd. She is the Chief Compliance Officer and heads Human Resources and Quality Control at the firm. She joined PGE&Co in 2011 and today oversees the firm’s compliance and quality standards. Maria holds a degree in Accounting & Finance and is a Fellow of the Institute of Chartered Accountants in England and Wales (ICAEW), as well as a member of the Institute of Certified Public Accountants (ICPAC) since 2005.

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